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Dec 13, 2021
RBC Links Its Future to Marquee Building in Downtown Minneapolis

The wealth management business will display its logo atop the RBC Gateway tower Tuesday, foreshadowing the opening of its U.S. headquarters.

On a balmy December day, the future of downtown Minneapolis will be given a skyline boost Tuesday when the RBC logo will be attached to the top of the RBC Gateway building.

The 37-story landmark project at 250 Nicollet Mall has been under construction throughout the pandemic. The new U.S. headquarters of RBC Wealth Management will be the lead tenant in the structure, which will also feature a five-star Four Seasons Hotel.

The Gateway project is viewed by civic boosters and business interests as a long-term investment in the future of downtown Minneapolis, which has been hurt by the exodus of downtown office workers after Covid-19 surfaced in March 2020.

RBC Gateway tower in downtown Minneapolis
United Properties, which is developing the tower, held a “topping off” ceremony for the building in September.

Downtown Minneapolis has been battered by remote work, civil unrest, and the loss of special events. But its recovery in 2021 has been marked by the return of fans to Twins, Vikings, and Timberwolves games, along with reopened music venues and the partial repopulation of downtown offices.

On Tuesday morning, McGough Construction is scheduled to hang a large sign on the Gateway building with the RBC logo. “We are thrilled to proudly display our company name atop our new U.S. headquarters building in Minneapolis,” said Michael Armstrong, CEO of RBC Wealth Management in the U.S., in a prepared statement. “The visibility our new signage provides will not only boost RBC’s brand awareness as we continue to grow our business in the U.S., but will foster great pride among our 5,500 employees here in Minnesota as well as in the other 41 states where we do business.”

The Dayton’s Project, located a few blocks away at 700 Nicollet Mall, has been welcoming holiday shoppers in recent weeks. While the persistence of Covid-19 has discouraged downtown workers from returning in full force to their former offices, the impending opening of the RBC Gateway building is creating optimism in those who want a more vibrant downtown.

RBC Wealth Management, which has leased 310,000 square feet in the new office tower, will start moving into its new space in February. The Four Seasons and luxury condos in the tower are expected to open later in 2022.

There are about 1,600 Minneapolis-based employees of RBC. “Colleagues in most roles will be able to take advantage of hybrid work schedules,” according to Nicole Garrison, an RBC spokesperson.

Most Minneapolis-based employees will have designated workspaces, but some RBC employees will occupy shared spaces.

“For most groups, there are no designated [work] days,” Garrison said Monday. “Instead, there is flexibility depending on the nature of a person’s role, their team and their manager.”

Currently, Minnesota is experiencing a high rate of Covid infections. It’s unclear what that rate will be in February, but RBC has implemented a Covid-19 vaccination requirement. Garrison said: “RBC requires all RBC employees, who are able, to be fully vaccinated in order to work on our premises, in regions where we are permitted to do so.”

The temperature is expected to be in the low 30s at 10 a.m. Tuesday when the RBC sign is installed on the Gateway building.